This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

End of attention

There are special rules for a dwelling you acquire as a beneficiary or the legal representative of a deceased estate. These rules are explained in chapter 9.

There are some special CGT rules that are not covered in this chapter that may affect you if your home was:

destroyed and you receive money or another asset as compensation or under an insurance policy (see chapter 7)

transferred by you as a result of the breakdown of your marriage (see chapter 8)

transferred to you as a result of its conversion to strata title or

compulsorily acquired by an Australian government agency (see chapter 7).

This chapter also does not cover the sale of a rental property, although there is a worked example at appendix 5 showing how to calculate your capital gain or capital loss in this instance. For more information about this and other situations, you may need to contact us. Alternatively, you may wish to consult your tax adviser.

If you own more than one dwelling during a particular period, only one of them can be your main residence at any one time.

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We are committed to providing you with accurate, consistent and clear information to help you understand your rights and entitlements and meet your obligations.

If you follow our information and it turns out to be incorrect, or it is misleading and you make a mistake as a result, we will take that into account when determining what action, if any, we should take.

Some of the information on this website applies to a specific financial year. This is clearly marked. Make sure you have the information for the right year before making decisions based on that information.

If you feel that our information does not fully cover your circumstances, or you are unsure how it applies to you, contact us or seek professional advice.